- Asset management group City of London said funds under management grew in December from the June quarter as its emerging market and international developed strategies outperformed.

As at 31 December 2019, funds under management were US$6bn (£4.5bn), this compared with US$5.4bn (£4.3bn) at the company's year-end on 30 June 2019.

The emerging market and international developed strategies outperformed, driven by narrower discounts, positive country allocation and good net asset value performance, the asset management company said.

The developed strategies recorded net inflows of $272m and the emerging market strategies saw net outflows of $118m.

'We have to date received notification of circa $200m of net inflows in aggregate across all strategies, which we expect to fund over the next quarter, it added.

At 9:45am: [LON:CLIG] City of London Investment Group PLC share price was +8.5p at 451p

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